Ron Green Posted February 13, 2006 Share Posted February 13, 2006 Quote; "Sure, people buy their cars back, but it ain't cheap to do it."There is probably a reason why many times you can't directly speak with the seller (only a rep) at some of these auctions. They don't want you to see them or their friends bidding on their car. There is a theory to this madness.You bid your 50k dollar car up to 90k and it doesn't sell (though on occasion it will). You buy it back and your cost is approximately 14K (16%). You now can advertise at the next auction or wherever that the vehicle was bid to 90K and the seller didn't sell, so hopefully you generate interest in the car. Worst case you sell it for 80K and give the guy a great deal.I have heard that up to 40% of BJ vehicles are buy backs. Link to comment Share on other sites More sharing options...
Guest Silverghost Posted February 13, 2006 Share Posted February 13, 2006 I am not so sure you must pay 16% (8%+8%) to buy your car back!!! I have heard that if you do buy your own car back they will charge you a lower fee!!!( similar to a Reserve Auction Consignment Fee!!!) After-all how many sellers would want to put their car on the block and risk selling it at a loss!!! After-All this is not a Casino !!!The "All Cars Sold At No Reserve!" is just their advertising hook to get buyers there to bid!!! They have simply found a way around the "Reserve" issue that will put money in the Auction Co's Pocket!!! Link to comment Share on other sites More sharing options...
Ron Green Posted February 13, 2006 Share Posted February 13, 2006 I attended a seminar at the AACA meeting in Philly last weekend and there was a whole discussion regarding this topic and the company that gave the seminar appraises thousands of vehicles and attends every auction in the USA. They are just as upset about this practice as all of us. They seemed very knowledgeable on this subject as they see it occurring on a daily basis. So I believe what they stated as they see it first hand.Still waiting to hear from you about the Amphicar. Sent you two emails. At least respond yes / no. Link to comment Share on other sites More sharing options...
RVAnderson Posted February 14, 2006 Share Posted February 14, 2006 Right on, Ghost. The first thing I do when looking at local auction listings is to check the bottom for a BP; if it's there I don't even bother to read the rest. A BP is doing a service for one person and then billing someone else for it. Ridiculous--but somehow, the scam seems to be spreading!! Somewhere, P.T. Barnum's gotta be LOL. Link to comment Share on other sites More sharing options...
alsancle Posted February 14, 2006 Share Posted February 14, 2006 There are good deals and bad deals at auctions. I'm sure that sometime at 10:00 pm on Thursday night there were a couple of decent deals at BJ too. Personally, I doubt I would buy a car there because you are paying for the hoopla on most of the cars, which I would rather not do. HOWEVER, anybody with half a brain or a calculator can figure out the buyers premium on top of their bid and calculate their total cost on the fly. You can get a decent deal at an auction even when you factor in buyers premium, sellers premium etc. Of course, I'm assuming that you know the market for the car you are buying and you know when to stop. Link to comment Share on other sites More sharing options...
RVAnderson Posted February 15, 2006 Share Posted February 15, 2006 I have always understood that the fellow who gets the service should pay for it. How 'bout I shovel out your neighbor's driveway and then hand you the bill for it?If anyone can convince me that trying to get me to overpay as much as possible for something is providing a service TO ME, I'll bid and then happily pay the BP, keeping in mind what is said about a fool and his money. Link to comment Share on other sites More sharing options...
stock_steve Posted February 15, 2006 Share Posted February 15, 2006 That was a metallic blue one, right Roger? I believe I saw it on display at the "Big E" about 5 or so years ago? http://www.peterpanbus.com/services/futurliner.shtmlOh boy, just like our forum friend Matt Wilson with the $C(Rambler), they've also "hit the jackpot!" Link to comment Share on other sites More sharing options...
West Peterson Posted February 15, 2006 Share Posted February 15, 2006 <div class="ubbcode-block"><div class="ubbcode-header">Quote:</div><div class="ubbcode-body">I have heard that up to 40% of BJ vehicles are buy backs. </div></div>I was at that seminar too, but I understood that it was only about 40% of the cars actually SELL. Making it 60% buy backs. Either way, the public is being spoofed. I don't think what they're doing is illeagal, but it sure as heck ain't ethical. Link to comment Share on other sites More sharing options...
Guest Silverghost Posted February 15, 2006 Share Posted February 15, 2006 If this is in fact all TRUE about all the owners buying back their cars or "Shill" bidders working up the prices...IT SHOULD BE ILLEGAL !!! IT's All about making BIG MONEY for the Auction Company!!!I often wonder what sort of "Back Door Deal" Barrett-Jackson has with the SPEED Channel ???I also wonder what sort of deal they have with the Scottsdale Az. Folks??? After all WestWorld is owned by Scottsdale & and so are the Giant Tents!!!Forums like this one could finally spread the truth about what is REALLY GOING ON HERE!!!Some of the World's leading Art & Antique Auction Companys were caught fixing prices & comission rates several years ago...Several Top Auction Co officers were taken to court (Criminal & Civil) The Art & Antique community was shocked by this!!!I WAS NOT !!! WE ARE SEEING GREED AT WORK HERE !!!As for me.....I AVOID ATTENDING ANY BARRETT-JACKSON EVENT!!!Their antics just make me, as a true Antique car Collector for over 35 years, SICK and disgusted !!! Link to comment Share on other sites More sharing options...
Guest De Soto Frank Posted February 16, 2006 Share Posted February 16, 2006 Well, I, for one, will NOT be party to their nefarious schemes!I pledge here and now, in front of God and everybody, that I Will Not patronize that Barrett-Jackson car auction !(THAT'LL show 'em !) Link to comment Share on other sites More sharing options...
Guest Silverghost Posted February 16, 2006 Share Posted February 16, 2006 Frank: I think You & I & others would not be welcome at their front gate!!!Don't you find it a bit strange that someone from their company has not posted a reply to our speculations on this site???I, for one, would like to hear from Barrett-Jackson as to their side of the many issues raised here!!! (ie: Buy-Backs, Price Shilling, Owners & their Agents bidding on their own cars,why the No-Reserve Policy,and last but NOT least...Why people SEEM to be bidding way over Price Guide Grade # 1 prices for grade # 2-#3 cars & are Paying More for Hemi+ Big Block Clones than the REAL Origional Hemi + Big Block Cars...OH...and WHERE did all these 67 Corvette Big Block Tri-Power Roadsters come from ??? What does everyone else think about this??? Link to comment Share on other sites More sharing options...
Guest De Soto Frank Posted February 16, 2006 Share Posted February 16, 2006 Brad, As long as they've got lots of folks lining-up to pay the admission price and register to bid, and buy the overpriced toys, B-J doesn't need to be concerned with the likes of malcontents like us...A Social Studies teacher I once had remarked that "capitalism has no conscience."...It has been my experience at auctions in general (estate, antique, and auto), that many bidders often forget to bring their common sense or self-control.Time and again, I 've seen a wide variety of items go for "far more than they were worth", while other "truly valuable" pieces went for a fraction of their "fair market value"...If the players associated with B-J are engaged in something illegal, then they should be "found out" and called on it; but if it's simply a case of an overexposed event where "fools and their money/credit are soon parted", well then perhaps all "we who know better" can do is sit in our rocking chairs and shake our heads and make clucking noises in disapproval... and I WILL continue to cluck... Link to comment Share on other sites More sharing options...
55PackardGuy Posted February 17, 2006 Share Posted February 17, 2006 <div class="ubbcode-block"><div class="ubbcode-header">Quote:</div><div class="ubbcode-body">an overexposed event</div></div>Seems to me what you're talking about here is a cleverly marketed and promoted series of events, also known as a "show." It's entertainment! The more over-the-top the "action" gets the better it can compete with the likes of "American Idol" and other idle media diversions.I can mention the B-J auctions to people with no interest in collecting or restoring cars, and they often have seen the "show" or heard of it. Is it frustrating for enthusiasts who have some knowledge of the real-world value of collectible cars, and an interest in preserving the viability of the hobby and originality of the cars? You bet! But things are probably going just the way B-J wants them to go. They have developed a very valuable franchise. Maybe the novelty will wear off and it'll burn itself out. We can only hope. Link to comment Share on other sites More sharing options...
RPrice Posted March 7, 2006 Share Posted March 7, 2006 Just because these fools bid up and buy these cars at outragious prices doesn't mean that the cars are worth that. You may be right, something may have been added to the Kool Aid. Also, just because some of these people have excess money doesn't mean that they have excess brains.Rog [color:\\"red\\"] Link to comment Share on other sites More sharing options...
Guest BJM Posted March 7, 2006 Share Posted March 7, 2006 I am pretty sure that for those folks bidding to win, and eventually winning a car at B-J especially if the win is witnessed on SPEED Cahnnel, that they are bidding that high in part to be involved in a celebrity status event wherein their personal attendance is equivalent to being up close and personal at any number of highly exposed events such as a world heavyweight boxing match (front row seat) a pit row handshake before a race with your favorite NASCAR driver or such. As with many instances, nobody remembers 2nd place, so with the means to play this kind of poker, they GO FOR IT and thus drive up the prices. Bad for the hobby but maybe a blip on the radar screen for those who remember the over-speculated late 1980's. Link to comment Share on other sites More sharing options...
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